Some information about ifsc or indian financial system code

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Some information  about IFSC or Indian Financial System Code

 

IFSC or Indian Financial System Code is an alpha-numeric code that uniquely identifies a bank-branch participating in the NEFT system. This is an 11 digit code with the first 4 alpha characters representing the bank, and the last 6 characters representing the branch. The 5th character is 0 (zero). IFSC is used by the NEFT system to identify the originating / destination banks / branches and also to route the messages appropriately to the concerned banks / branches.

How can the IFSC of a bank-branch be found?

Ans: Bank-wise list of IFSCs is available with all the bank-branches participating in NEFT. List of bank-wise branches participating in NEFT and their IFSCs is available on the website of Reserve Bank of India at https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2009 . All the banks have also been advised to print the IFSC of the branch on cheques issued to their customers.

Further, banks have also been advised to ensure that their branch staff provide necessary assistance to customers in filling out the required details, including IFSC details, in the NEFT application form, and also help in ensuring that there is no mismatch between the IFSC code and branch details of beneficiary branch as provided by the customer.

 

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An IFSC or the Indian Financial System Code is an 11 digit code in alpha-numeric format used by the Reserve Bank of India to identify all the Bank branches within the NEFT (National Electronic Funds Transfer) network uniquely.This is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. IFSC Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.                     


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